Updates

Parity

October 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The excitement at Parity is not about crunching current numbers but on the acquisition strategy to grow its digital division, which is likely to change the nature and scale of profits in due course - and Parity has now placed a two year timeframe on their ambition. As it was, interims this month show sales up 9% to Â£46.5m and Parity returned to profit at the operating level, leaving an adjusted pretax profit of Â£0.5m. The IT contractor business performed slightly better than expected, generating revenues up by 8% to Â£42.4m helped by new client wins and an increase in placements whilst Parity Digital grew sales 20% year on year to Â£4.4m. Parity remains actively engaged with several potential acquisitions. ...

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